Barely 11 days after their divorce papers were filed, Tom Cruise and Katie Holmes have settled out of court.

The couple - commonly referred to as TomKat - have signed an undisclosed settlement, according to a report by CNN. The couple have one child, Suri, age 6.

A joint statement prepared by a publicist says the couple are working in the best interest of their daughter, and asked for privacy.

"We are committed to working together as parents to accomplishing what is in our daughter Suri's best interests," the statement said. "We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents."

Holmes filed for divorce June 28 in New York, and asked for sole custody. An unnamed source told ET.com that Holmes was likely to be granted custody.

Sources say the divorce filing came as a surprise to Cruise, whose public persona has taken a hit during the past six years due to his erratic behavior and his commitment to the controversial Scientology religion.

Celebrity gossip websites have reported the religion is at the center of the Cruise-Holmes divorce. Holmes was raised Catholic.

According to TMZ, Cruise had asked for "significant and meaningful" visitation with Suri. He is currently filming a movie in the Rockie Mountains.

Holmes's attorney, Jonathan Wolfe released a statement at the time of the divorce filing, saying, "Katie's primary concern remains, as it always has been, her daughter's best interest." (Source: WFSB)